As a private money lender secure profitable real estate deals are your primary concerns. When funding a real estate transaction it is wise to use a professional. Even seasoned real estate brokers who could fill out the paperwork in their sleep, would not close without one. Why? Because they know the paperwork will be handled by people who are knowledgeable and trained to keep your transaction secure.
One very important factor in keeping your investment safe, which a title company or attorney will suggest, is a lender's title insurance policy. This is often missed by private lenders because they buy with cash so it isn't always obvious that it is needed, unless you use a proffessional to close the deal!
Where the transaction is being completed will determine whether you use an attorney or a title company. In California we close with title companies. In Georgia, the title company is a law firm. Check with your real estate investor to learn which you will be using. If they don't know, find another person to work with. A successful real estate investor should have the correct information.
I'll explain title insurance and the benfits of having it in my next post. Until then, all the best.
Comments